Apartment Building with Vacant
For Sale
$1,700,000
4325 Kansas Ave NW, Washington, DC 20011
As-is apartment property with occupied and vacant units, plus identified needs involving the roof, windows, and general maintenance.
Property Size9,112 SF
Days on Market8
Property Features for 4325 Kansas Ave NW
General Information
Standard status
Active
Size
9,112 SF
Property subtype
Multifamily
Occupancy
71%
Amenities
• A 9,120-Square-Foot Multifamily Property Offering Value-Add Opportunities
• Located in Petworth with Excellent Connectivity to US-29 and Access to Local Amenities, Restaurants, and Shopping Centers
• Five Vacant Units Provide Immediate Upside Potential for Investors Seeking to Increase Rental Income Through Renovations
• Additional Revenue Opportunities Include Structured Parking Fees and Solar Panel Installation
• Situated Within a 17-Minute Drive to Ronald Reagan Washington National Airport
Building Details
Building Size
9,112 SF
Units
17
Listing Agency:
Washington, D.C. Office
(202) 536-3705
Listed By:
Stacey Milam · License #License(s): MD: 526147, DC: SP101423, VA: 0225 077593
(202) 536-3705
Source:
Marcusmillichap
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 29 at 3:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Washington, D.C. Office
Investment Insights
Based on property information with market context.
Built in 1965, this apartment building contains 9,120 square feet on a 0.17-acre lot. The property includes eight occupied units and five vacant units, with the vacant apartments offering a defined renovation component for new ownership. The building is being sold as-is, and noted improvement needs include the roof, windows, vacant units, and general maintenance.
The property is located at 4325 Kansas Avenue NW in Washington, D.C.’s Petworth neighborhood, with access to US-29. Petworth Library is one block away, while three shopping centers are within a five-minute drive. Ronald Reagan Washington National Airport is approximately 17 minutes away.
Additional concepts identified for the property include structured parking fees and solar-panel installation. Future rent increases for the occupied units are also cited as potential operating considerations, subject to ownership decisions and implementation.
The property is located at 4325 Kansas Avenue NW in Washington, D.C.’s Petworth neighborhood, with access to US-29. Petworth Library is one block away, while three shopping centers are within a five-minute drive. Ronald Reagan Washington National Airport is approximately 17 minutes away.
Additional concepts identified for the property include structured parking fees and solar-panel installation. Future rent increases for the occupied units are also cited as potential operating considerations, subject to ownership decisions and implementation.
Key Highlights
- 9,120‑square‑foot apartment building constructed in 1965
- 0.17‑acre lot in Washington, D.C.’s Petworth neighborhood
- Five vacant units and eight occupied units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$145,027
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,900,540
$2.9M
Cap Rate 7%
$2,071,814
$2.1M
Cap Rate 9%
$1,611,411
$1.6M
Market Conditions
NOI Build-Up for 9,112 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$279.9K $30.72/SF
− Vacancy
−$16.2K −$1.78/SF
EGI
$263.7K $28.94/SF
− OpEx
−$118.7K −$13.02/SF
NOI
$145.0K $15.92/SF
Area
ZIP 20011
Vacancy
5.80%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,900,540
Cap Rate 7%
$2,071,814
Cap Rate 9%
$1,611,411
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.42M
NOI $145,027 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.12M – $5.49M
NOI $329,318 @ 7.0% cap · market cap 19.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,790
Businesses Nearby
Explore this area
Business Placement
Demographics for 20011, DC
67,815
Population
29,658
Households
2.3
Avg Household Size
37
Median Age
55%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
12,558
Density / Sq Mi
$108,377
Median Household Income
$69,147
Median Earnings
$1,636
Median Rent
$722,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - As-is apartment property with occupied and vacant units, plus identified needs involving the roof, windows, and general maintenance.
Where is this apartment building located?
The property is located at 4325 Kansas Ave NW Washington, DC.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 9,120‑square‑foot apartment building constructed in 1965; 0.17‑acre lot in Washington, D.C.’s Petworth neighborhood; Five vacant units and eight occupied units
